Synnex (NYSE:SNX) announced after the bell Thursday that first-quarter net income fell and expenses increased. The company earned $29.7 million, or 80 cents per share, versus with $34.7 million, or 98 cents per share in the same period last year. Revenue increased 29 percent to $2.50 billion from $1.94 billion. Expenses increased to $92.2 million from $70 million a year ago and interest expenses and finance charges increased to $6.2 million from $3.8 million. CEO Kevin Murai said that he expects profit margins to increase by mid-year and project second quarter unadjusted earnings per share of 77 cents to 81 cents and revenue of $2.44 billion to $2.56 billion.
Shares are lower by neraly 7.3 percent.
Embraer (NYSE:ERJ) announced after the bell yesterday that earnings fell for the full year 2010, despite a spike in fourth quarter business. Net income in 2010 fell to $330 million, a 30 percent decline from the $465 million in 2009. Sales fell from $5.5 billion to $5.4 billion, and the company delivered 101 commercial planes and 145 executive aircraft in 2010, versus to 122 commercial and 115 executive in 2009. Revenues increased to $2 billion from $1.6 billion, and net income increased $28 million to $123 million versus the fourth quarter of 2009. Embraer projects sales of $5.6 billion in 2011.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.